Apartment Rents Are Near Pre-Pandemic Highs via GlobeSt

Average rents for US apartments now are within a hair of the all-time highs seen in early 2020, as more individual metros are moving back into price growth mode.

Across the country’s largest 150 metros, effective asking rents for new leases in January 2021 came in only 0.3% below the rates seen at the start of 2020, before the spread of COVID-19 and the resulting economic struggles led to rent cuts.

The nation’s average effective asking rent is now $1,382 per month.

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